Macquarie snaps up Luxembourg-based ValueInvest

The investment management division of global asset manager Macquarie Group has announced the acquisition of Luxembourg-based ValueInvest Asset Management.

Once the deal is completed, Macquarie Investment Management will incorporate a team of 17 investment specialists, which will continue to be led by Jesper Alsing, chief executive, and Jens Hansen, CIO at ValueInvest Asset Management.

For Macquarie Investment Management, which already has a presence in the Grand Duchy, the deal reflects the business's "continued commitment" to the country and its strategy to "expand its global equities capabilities and distribution reach across Europe".

ValueInvest, based in Luxembourg since 1998, is a specialist in global and Japanese equities.

As at the end of 2017, it had about €4 billion in assets under management.

The asset manager will join Macquarie's multi-boutique equity structure led by John Leonard, global head of equities for the group's investment management division.

Macquarie Investment Management is part of Macquarie Asset Management, a global asset manager with €314.4 billion in assets under management as at 31 December 2017.

The group employs more than 14,000 people in 25 countries.

The deal, whose financial terms were not disclosed, is expected to close by mid-2018.